Data is the currency of today’s digital economy, the oil of the 21st century. Personal data is considered our economical asset generated by our identities and our behavior and we trade it for higher quality services and products. Online platforms act as intermediaries in a two-sided market collecting data from consumers and selling advertising slots to companies. In exchange for our data being collected, we get what appears to be a free service.
The growth and the market capitalization of social platform providers like Facebook and search engines such as Google demonstrate the value of personal data. Personal data also provides new ways to monetize services as news organizations are finding it difficult to charge ‘real’ money for digital news, but leverage our willingness to pay for a selection of ‘free’ news with our personal data. Every 3 out of 4 persons prefer free registration with selective access over a paid registration with full access.